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☆ Ericsson shares rally on AT&T network deal, Nokia drops
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: 1 min

A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo Acquire Licensing RightsDec 5 (Reuters) - Ericsson (ERICb.ST) shares rallied in early trading on Tuesday after AT&T (T.N) chose the Swedish telecoms equipment maker over Finnish rival Nokia (NOKIA.HE) to build a network under a five-year deal that could see spending reach $14 billion. Ericsson rose around 8% on German trading platform Tradegate, while Nokia fell 9%. Reporting by Danilo Masoni; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Lars Hagberg, Danilo Masoni, Amanda Cooper Organizations: Ericsson, REUTERS, Nokia, Thomson Locations: Kanata , Ontario, Canada

☆ Ericsson books $3 bln impairment, says Q3 core profit fell 39%
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo Acquire Licensing RightsSTOCKHOLM, Oct 11 (Reuters) - Ericsson (ERICb.ST) on Wednesday announced a 32 billion Swedish crown ($2.9 billion) impairment charge related to its acquisition last year of Vonage, and said core profits fell in the third quarter as demand tumbled in North America. "The impairment charge represents 50% of the total amount of goodwill and other intangible assets attributed to Vonage." Ericsson said a preliminary reading showed its operating profit before amortisation and restructuring and impairment charges fell 39% in the third quarter to 4.7 billion crowns. Ericsson's profits plunged also in the second quarter as a slowdown in consumer spending hit sales of telecommunications gear.

Persons: Lars Hagberg, Vonage, Ericsson, Anna Ringstrom, Shailesh Kuber, Leslie Adler, Terje Solsvik, Jonathan Oatis Organizations: Ericsson, REUTERS, Rights, Wednesday, Ericsson's, Networks, Thomson Locations: Kanata , Ontario, Canada, Rights STOCKHOLM, North America, Swedish, Stockholm, Bengaluru

In Canada, homeowners can take out five-year mortgages, unlike in the U.S. where customers can snag a 30-year mortgage. In some cases, renewed home loan rates could reach 7%, which would push up the average Canadian mortgage by at least a few hundred dollars per month, mortgage brokers estimate. Canadians are already struggling to repay their debts amid high costs of living and rising interest rates. "This dramatic rise in bond yields means that when the computer chugs along and sets up the rates for next week, they will be using higher rates based on these high bond yields," Toronto-based mortgage broker Ron Butler said. He suggests that the spike in bond yields over the past month could on average add C$600 in monthly payments.

Persons: Lars Hagberg, Daniel Vyner, Wowa, Ron Butler, Justin Trudeau's, Hanif Bayat, Butler, Nivedita Balu, Fergal Smith, Denny Thomas, Josie Kao Organizations: REUTERS, Rights, Capital, Bank of, Canada Mortgage, Housing Corp, Bank of Canada, Mortgage Professionals Canada, Thomson Locations: Ottawa , Ontario, Canada, U.S, Toronto

☆ Ericsson partners with Deutsche Telekom for network APIs
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: 1 min

[1/2] A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File photo Acquire Licensing RightsSTOCKHOLM, Sept 20 (Reuters) - Sweden's Ericsson (ERICb.ST) said on Wednesday it has partnered with Deutsche Telekom (DTEGn.DE) to offer software tools for developers and business customers that will allow telecom operators to get more revenue. Known as network application programming interface (API), the software will use the Vonage platform -- a company Ericsson bought for $6.2 billion in 2022 -- to help developers create new use cases based on a mobile network. Reporting by Supantha Mukherjee in Stockholm, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

Persons: Lars Hagberg, Sweden's, Supantha Mukherjee, Terje Solsvik Organizations: Ericsson, REUTERS, Rights, Sweden's Ericsson, Deutsche Telekom, Thomson Locations: Kanata , Ontario, Canada, Rights STOCKHOLM, Stockholm

☆ Canada plans incentives to ease housing burden, CBC reports
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Lars Hagberg/File Photo Acquire Licensing RightsSept 10 (Reuters) - Canada's Housing Minister Sean Fraser is evaluating a wide range of options as he looks to ease the housing crisis in the country, CBC reported on Sunday. "There's a range (of incentives) that we're considering right now. Some could include potential tax incentives for builders to build. Some could include other low-cost financing arrangements," the report quoted Fraser as saying in an interview to CBC. Fraser is also considering removing the Goods and Services Tax (GST) on affordable housing projects and dedicating federal lands to rental housing, the report added.

Persons: Lars Hagberg, Sean Fraser, Fraser, Anirudh, Lisa Shumaker Organizations: REUTERS, Canada's, CBC, Goods, Services Tax, Thomson Locations: Ottawa , Ontario, Canada, Bengaluru

☆ Ericsson sees IPR licensing revenues of $1 bln this year
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo Acquire Licensing RightsSTOCKHOLM, Aug 25 (Reuters) - Sweden's Ericsson (ERICb.ST) predicted on Friday intellectual property rights (IPR) licensing income of 11 billion Swedish crowns ($1 billion) this year after it renewed a patent cross-licensing agreement with China's Huawei. The telecom gear maker's renewed multi-year deal with its Chinese rival grants both companies global access to each other's patented, standardized technologies, it said. "With the current portfolio of IPR licensing contracts, Ericsson estimates the full-year 2023 IPR licensing revenues to be approximately 11 billion crowns," the company said in a statement. ($1 = 11.0158 Swedish crowns)Reporting by Anna Ringstrom, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

Persons: Lars Hagberg, Sweden's, Anna Ringstrom, Terje Solsvik Organizations: Ericsson, REUTERS, Rights, Sweden's Ericsson, China's Huawei, Thomson Locations: Kanata , Ontario, Canada, Rights STOCKHOLM

☆ Sweden's Ericsson sued by some shareholders for $170 million, Dagens Industri reports
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File PhotoOSLO, Aug 4 (Reuters) - Some 37 Ericsson (ERICb.ST) shareholders are suing the Swedish telecoms company for a total of 1.8 billion crowns ($170 million), business daily Dagens Industri reported on Friday. The shareholders, which include several investment firms and pension funds, have filed separate lawsuits with a Swedish court but their actions are coordinated, the paper reported. According to Dagens Industri, the shareholders are demanding compensation for the 33% fall in value in Ericsson shares between Feb. 16, 2022, and March 2. On Feb. 15, 2022, Ericsson CEO Boerje Ekholm had talked to Dagens Industri about an internal, and until then, secret report about the company's activities in Iraq, the paper said in a published interview.

Persons: Lars Hagberg, Dagens Industri, Boerje Ekholm, Dagens, Gwladys Fouche, Louise Heavens Organizations: Ericsson, REUTERS, Dagens, Marie Mannes, Thomson Locations: Kanata , Ontario, Canada, OSLO, Swedish, Iraq, Oslo, Stockholm

☆ Alberta heads to the polls with Canada's green agenda in balance
▼ + stars: | 2023-05-29 | by ( Nia Williams | ) www.reuters.com time to read: +4 min

[1/2] Alberta Premier Danielle Smith speaks during the Canada Strong and Free Networking Conference in Ottawa, Ontario, Canada March 23, 2023. The battle between populist Premier Danielle Smith's United Conservative Party (UCP), which is seeking a second consecutive term, and Rachel Notley's left-leaning New Democratic Party (NDP) is expected to be extremely close, pollsters say, even though Alberta is traditionally a conservative bastion. Alberta is Canada's highest-emitting province, largely due to vast oil sands operations in the northern boreal forest and produces 80% of the country's 4.9 million barrels per day of crude oil. She held another major rally in NDP stronghold and Alberta capital Edmonton on Sunday. Polls are open from 9 a.m. to 8 p.m. local time and the result is expected to be called late Monday night.

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